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	<title>Money magazine Comments - 'Free car' tax write-off lives on ... for now</title>
	<description>In good news for small businesses, the Treasurer announced in the Budget that the $20,000 asset write-off scheme for small businesses will be extended.</description>
	<link>https://www.moneymag.com.au/feed/latest?story=141425454</link>
	<lastBuildDate>Thu, 11 May 2017 21:54:32 +1000</lastBuildDate>
	<pubDate>Thu, 11 May 2017 21:54:32 +1000</pubDate>
	<language>en-AU</language>
	<copyright>Copyright 2026 Money magazine</copyright>
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		<title>Money magazine Comments - 'Free car' tax write-off lives on ... for now</title>
		<url>https://media.moneymag.com.au/prod/media/library/Money_Mag/Logo/Logo_401x133.png</url>
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		<title>Comment by Shaun  ()</title>
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<p><p>Re: the $20k tax break for small businesses. In the case of the purchase of a car that is used 50% for the business and 50% for personal use, does this mean you could buy a $40k car and get the tax break for the 50% of it that is for business use - 20k?</p>
<p>Say you wanted to start working as a courier. Could you make good use of this tax break to start you off? Obviously you need to have the money to spend but if you do, then a $20k deduction at the end of year 1, along with all your other deductions, is going to go a long way to reducing your tax. For argument's sake, in year 1 all your profits could end up being tax-free. Fair comment? Not sure what costs would be or how much couriers earn but these are my thoughts in general.</p></p><p><a href="">Reply to article</a></p><p>For original story, <a href="">Click Here.</a></p>
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		<dc:creator>Shaun  ()</dc:creator>
		<pubDate>Thu, 11 May 2017 21:54:32 +1000</pubDate>
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